谁掌控Ondo？深入解析震动加密行业RWA巨头的超级继承权之争

Ondo控制权之争：创始人离世引发的公司治理危机

Nathan Allman的突然离世，在Ondo Finance引发了一场关于领导权与所有权的激烈争夺。Kathleen Allman对遗产的权利成为这场围绕Ondo董事会及首席执行官（CEO）职位斗争的核心焦点。特拉华州和夏威夷州的法律诉讼程序为这场涉及代币化公司控制权的争斗增添了新的复杂性。

Nathan Allman的去世不仅让Ondo Finance失去了其创始人，更暴露了这家加密货币领域最大代币化公司之一的治理漏洞。Allman于2026年5月意外去世，年仅32岁。他不仅是Ondo的CEO，还是公司的唯一董事及控股股东。尽管公司拥有两个董事会席位，但第二个席位长期空缺。因此，他的去世在公司内部造成了罕见的权力真空：公司在失去现任董事的同时，Allman所持股份附带的投票权也随之转入其遗产管理之中。

目前，这一权力空白正处于一场涉及多方主体的特拉华州公司治理争夺战中心。参与方包括Ondo代理CEO Ian De Bode、Allman的母亲Kathleen Allman、其他Allman家族成员以及一位早期投资者。这场斗争不仅仅关乎谁将担任CEO头衔，更引发了多重法律疑问：谁有权合法任命董事？谁可以行使Allman的投票权？继承期间采取的行动是否有效？一项价值数百万美元的薪酬方案能否得以维持？

Is Ian De Bode still President of Ondo?

The starting point of the controversy lies in Allman's abnormal concentration of power. According to litigation documents, at the time of his death, he served as CEO, sole director and controlling shareholder of Ondo. As the company's second board seat was vacant, no current directors convened a meeting or formally appointed a successor at that time. Securities and Exchange Commission records also reveal Allman's position in the Ondo structure: The SEC Form ADV confirms Nathan Allman as a shareholder and controller of Ondo Finance.

Allman's death created two problems at the same time: management vacancies and shareholder control issues. The second issue is particularly critical because subsequent estate litigation revealed that Allman left no will during his lifetime.

Within hours of Allman's death, Ian De Bode stepped in as president. De Bode had previously been responsible for running Ondo's important businesses as president. According to Kathleen Allman's complaint in Delaware, De Bode argued that Ondo's company charter allowed him to automatically become CEO. However, the legacy party objected to this, arguing that the vacancy in the CEO position must be filled through board action. In the circumstances described in the complaint, there was no current board of directors at the time, which made this claim difficult to establish.

The controversy then transcended the CEO title itself. The estate accused De Bode of using a voting agreement to place himself as Ondo's sole director and subsequently taking multiple corporate actions including hiring consultants, approving performance awards and trying to add another director. This made the voting agreement one of the key pieces of evidence in the entire case.

核心问题不在于De Bode是否成为了CEO，而在于围绕Ondo股东的合同安排，是否赋予了他一条在Allman股份仍处于遗产认证期间的路径，从而确立对公司的控制权。

Kathleen Allman 质疑的内容是什么？

根据特拉华州的诉讼文件，2026年6月26日，夏威夷州一家遗产法院任命Nathan的母亲Kathleen Allman为其遗产的个人代表。这一点至关重要，因为遗产中包含了Nathan的所有权权益及其附带的投票权。由Callan R. Jackson律师代表的Kathleen，因此成为代表遗产管理这些权益的人。

双方随后就Nathan去世后的事件发展产生了截然不同的看法。De Bode的立场是，公司需要保持运营的连续性，且他有权继续管理公司。而Kathleen后来的诉状则指控，De Bode攫取了需要董事会批准的权力。

2026年7月24日，争端进一步升级。根据诉状，Kathleen利用遗产的股东投票权执行了书面同意书，重组了Ondo的董事会。她最初任命自己为董事，随后扩大了董事会规模，包括任命Nathan的妹妹Tahnee Towill。Gordon Liao也被提议担任董事席位，但他予以拒绝。新组成的董事会随后投票罢免了De Bode的职务，并任命Kathleen为董事长、CEO、秘书和财务主管。

De Bode否认了这些指控，称其毫无根据。

特拉华州案件立案

Kathleen's legal challenge was filed in the Delaware Court of Chancery on July 24, 2026. Official file shows that the case was "Kathleen C. Allman v. Ondo Finance Inc.”，Case number 2026-0978 was heard by Justice Kathaleen McCormick. At the heart of the case is a basic corporate law question: Who had legal authority to control Ondo after the death of Nathan Allman?

The controversy also covers De Bode's actions between Nathan's death and Kathleen's intervention, including company and compensation decisions. Kathleen's complaint further alleges that De Bode received or was provided with a generous compensation package that included an annual salary and bonus of $900,000, a signing bonus of $1 million, 26 million restricted token units and approximately 846,000 shares of stock. It should be noted that these figures are only the allegations in the complaint and not the court's findings.

What are the accusations made by Ondo's founder's sister?

According to the latest developments on September 16, the corporate battle has spilled into another legal proceeding in Hawaii. Nathan's half-sister Dr. Lani Clinton and Ondo investor David Chen applied to a Hawaiian court for limited custody of Kathleen's interests in Nathan's estate. The petition alleges Kathleen's drinking habits, cognitive abilities, consumer behavior and financial judgment. These claims are still allegations and have not been confirmed by the court. Kathleen refuted this, saying it was Ian's strategy.

This, while coexisting with the Delaware corporate governance controversy, raises a second legal question: Who should have the authority to manage the estate and the interests that Nathan left behind?

这场争斗为何重要？

这场斗争对任何公司而言都意义重大，但Ondo Finance早已不再是一家小型加密初创企业。在2026年9月提交给SEC的文件中，Ondo表示其拥有约40亿美元的代币化资产，超过430种代币化股票和ETF。其总锁仓价值（TVL）超过10亿美元，Ondo全球市场的累计交易量超过200亿美元。最近，Ondo成为首家加入DTCC Fund/SERV网络的代币化公司。其更广泛的业务还包括受监管实体以及通过近期Oasis Pro交易获得的基础设施。

因此，这场继承权之争最终关乎的不仅仅是谁获得CEO头衔，而是谁控制了Nathan Allman建立的公司，以及谁拥有决定其未来方向的法定权限。